Business

The prospects of a rescue deal being struck for a British hypersonic aviation pioneer appeared to recede this weekend when it emerged that talks with a Gulf-based state fund had stalled. Sky News has learnt that negotiations between Reaction Engines and the UAE’s Strategic Development Fund, the investment arm of the UAE’s Tawazun Council, about

The health secretary has warned of “difficult and big choices” coming in the budget, while refusing to rule out that tax thresholds will be frozen. Wes Streeting told Sky News’ Sunday Morning with Trevor Phillips programme the government “can’t fix 14 years in one budget” and there are lots of choices “we will have to

Ministers are exploring plans to hand ownership of the Post Office to thousands of sub-postmasters across Britain in an historic shake-up at the 364 year-old institution. Sky News has learnt that the Department for Business and Trade (DBT) has asked BCG, the management consultancy, to examine options for mutualising the Post Office. The work is

Tony Danker, the former director-general of the CBI, is to receive in the region of £500,000 from the business lobbying group in a settlement reached nearly a year after he was ousted in the midst of a wider sexual misconduct scandal. Sky News has learnt that Mr Danker, who left the organisation in April 2023,

Baillie Gifford, the Edinburgh-based fund manager, has told staff to return to full-time office working, the latest in a string of employers to cool on pandemic era remote working practices. Sky News understands that Baillie Gifford’s roughly-1,800 employees were notified in a video call several weeks ago that they were expected to attend its offices

Overhauling workers’ rights could cost businesses around £5bn a year, the government has said. The Employment Rights Bill, which aims to tackle low pay and poor working conditions, is being debated by MPs today as it passes through its next stage in parliament. Within the bill are a series of reforms branded the biggest overhaul

The home shopping group behind fashion brands such as Simply Be and Jacamo, received a takeover proposal from Very Group shortly before it agreed to be taken private by a member of its founding family. Sky News has learnt that Very Group – which is chaired by the former Conservative chancellor Nadhim Zahawi – made

A collection of bondholders in Thames Water are mobilising to protect their interests amid an intensifying battle to avert the company’s nationalisation. Sky News has learnt that Class B bondholders were notified on Thursday they would no longer be part of the same group as the Class A noteholders represented by Jefferies, the investment bank,

Britain’s new National Wealth Fund has struck a £1bn deal with two of Britain’s biggest high street lenders to retrofit thousands of homes to upgrade their energy-efficiency. Sky News has learnt that the government-backed vehicle has agreed with Barclays and Lloyds Banking Group to provide partial guarantees on loans to housing associations across Britain. An

The parent company of PizzaExpress is hiring bankers to help it refinance a £335m bond ahead of its maturity, amid tough trading conditions for casual dining operators. Sky News has learnt that Wheel Topco is close to appointing PJT Partners, the investment bank, to advise it on talks with its debtholders. PizzaExpress trades from 359

A larger-than-anticipated fall in inflation last month to 1.7% is the latest gust of economic data to suggest the prevailing economic wind is favourable. The first dip below the Bank of England’s target rate of 2% in more than three years, it follows news that wage inflation is slowing, and comes a week after confirmation the

A trio of buyout firms have been shortlisted to buy a stake in the UK operations of Grant Thornton, one of Britain’s six biggest accountancy firms. Sky News has learnt that Cinven, EQT and New Mountain Capital – the backer of Grant Thornton’s US business – have made the cut in a process that could

Scrutiny of Thames Water, the crisis-hit utility, will intensify this week when the industry regulator appoints LEK Consulting as an independent monitor of the company. Scrutiny of Thames Water, the crisis-hit utility, will intensify this week when the industry regulator appoints LEK Consulting as an independent monitor of the company. Sky News has learnt that

An American predator is close to sealing a £300m swoop on a division of De La Rue, the Bank of England’s banknote printer, in a move that will herald a break-up of the historic company. Sky News can exclusively reveal that Crane NXT, a New York-listed industrial technology group, was on Monday night close to

InPost, the operator of tens of thousands of parcel delivery lockers across Europe, is closing in on a deal to take full ownership of Menzies Distribution Group, the British logistics company. Sky News has learnt that InPost is in very advanced talks to acquire the 70% shareholding in Menzies that it does not already own.

The government will on Monday welcome more than £50bn of investment in the British economy as Sir Keir Starmer tries to reset his administration after a first hundred days market by scandal and infighting. Sky News has learnt that the International Investment Summit in the City of London will comprise more than £50bn of deal